Financially Simple

The type of Entity that you pick for business will have many legal pros and cons. Taxes, varying degrees of liability, and types of protection are all affected by your business entity. Consulting with your team's legal expert will help you decide which one best suits your small businesses needs. Justin goes over the differences between the various entities with legal expert Lee Popkin of Long, Ragsdale & Waters. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! TIME INDEX: 00:31 - What Entity Should a Business Owner Choose? 03:35 - A Brief History of Entities 04:10 - Corporations 04:50 - Limited Partnerships 06:18 - LLCs 09:55 - S Corps 11:14 - The Difference Between LLC & S Corp, Asset Protection 16:01 - Tax Benefits 18:59 - Effect of the New Tax Bill on Small Businesses 21:05 - Choosing Between an LLC and S Corp Based on Tax 23:15 - How to Determine Which Entity Suits Your Business Needs 24:43 - How Much Does this Expertise Cost? 26:46 - Getting G